JUST REPORTED WAMU cuts/suspends $6 BILLION in HELOCS

[HLS]

WaMu Cuts or Suspends $6B in HELOCs

Washington Mutual, one of the nation’s largest second-lien lenders, has terminated or suspended $6 billion in available home-equity lines of credit.

I also predict that people will have CREDIT CARD lines shut down in the future as well…

The noose is tightening…

[Enorah]

I’m having that “something’s just around the corner” feeling again.

[Enorah]

I’m having that “something’s just around the corner” feeling again.

[Enorah]

I’m having that “something’s just around the corner” feeling again.

[Enorah]

I’m having that “something’s just around the corner” feeling again.

[Enorah]

I’m having that “something’s just around the corner” feeling again.

[Daniel]

HELOC is the new subprime…

http://calculatedrisk.blogspot.com/2008/05/fleck-helocs-new-subprime.html

Or, to put it another way, the headline should read:

“WaMu closes barn door. Horses last seen in 2005”

[Daniel]

HELOC is the new subprime…

http://calculatedrisk.blogspot.com/2008/05/fleck-helocs-new-subprime.html

Or, to put it another way, the headline should read:

“WaMu closes barn door. Horses last seen in 2005”

[Daniel]

HELOC is the new subprime…

http://calculatedrisk.blogspot.com/2008/05/fleck-helocs-new-subprime.html

Or, to put it another way, the headline should read:

“WaMu closes barn door. Horses last seen in 2005”

[Daniel]

HELOC is the new subprime…

http://calculatedrisk.blogspot.com/2008/05/fleck-helocs-new-subprime.html

Or, to put it another way, the headline should read:

“WaMu closes barn door. Horses last seen in 2005”

[Daniel]

HELOC is the new subprime…

http://calculatedrisk.blogspot.com/2008/05/fleck-helocs-new-subprime.html

Or, to put it another way, the headline should read:

“WaMu closes barn door. Horses last seen in 2005”

[kewp]

I’m having that “something’s just around the corner” feeling again.

Lots of people, myself included, think the rapid increase in consumer CC debt is due to FB’s loading up their credit cards after losing access to their HELOC. They are planning on filing bankruptcy anyway and are just loading up as much debt as possible before defaulting.

[kewp]

I’m having that “something’s just around the corner” feeling again.

Lots of people, myself included, think the rapid increase in consumer CC debt is due to FB’s loading up their credit cards after losing access to their HELOC. They are planning on filing bankruptcy anyway and are just loading up as much debt as possible before defaulting.

[kewp]

I’m having that “something’s just around the corner” feeling again.

Lots of people, myself included, think the rapid increase in consumer CC debt is due to FB’s loading up their credit cards after losing access to their HELOC. They are planning on filing bankruptcy anyway and are just loading up as much debt as possible before defaulting.

[kewp]

I’m having that “something’s just around the corner” feeling again.

Lots of people, myself included, think the rapid increase in consumer CC debt is due to FB’s loading up their credit cards after losing access to their HELOC. They are planning on filing bankruptcy anyway and are just loading up as much debt as possible before defaulting.

[Author]

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